Anyone Know of a Source fo 90% Coop Finaicing

what coop board, with our recent history of short sales and foreclosure, allow anything less than 25% financing? why would you want to be a partner in anything that allowed for such tenuous debt?

Have you found a coop that will permit less than 20-25% down? I've never heard of one.

Sponsor sales?

with 90% financing, you will be limited to condos.

in random order
345 East 77th Street
240 East 24th Street
649 Second Avenue
30 East 95th Street
170 West 74th Street

I could go on, but there are plenty of 90% financing coops in addition to AR's sponsor/no bd approval units.

While there might be some '90% Financing ALLOWED Coops'; however, very, very few 90% Financing LENDERS for Coops!
Though, UP to 97.5 for FHA Approved Condos . . .

In either case, Financials [yours, the Coop's or the Condo's] have to be excellent!

Please explain here if you find out otherwise . . . .
Been checking the same thing for my sis for a while, and exceptions are few, with many, many caveats!

A recent client of mine received 90% financing from Wells Fargo for a condo; since Fargo loans for co-ops they would be worth a try. She has outstanding credit and FICO (well into the 700's), is administrator in academic setting so job security probably better than average.

The building had better be solid financially, not just you.

Wells Fargo loan officer called me for help obtaining documents about that building. They are still a California bank although they have offices in NYC now.

If I were in your situation I would probably use a mortgage broker.

Karla Harby, VP
Charles Rutenberg Realty
kharby@crrnyc.com

I posted the same question on nationalmortgagenews,com, which is a Thompson Financial website frequented by many mortgage brokers, mortgage banlers and direct lenders. I was told to look into:

A. SONYMA
B. M&T Bank wholesale

That's all I've come up with so far. And thanks for your
help and suggestions.

Whats M&T Bank 'wholesale?'
Sonyma has the income limits and least credit requirements, but aren't they also still looking for that min. 20% DP?

A few Mortgage Brokers thought they might be able to pull off 15%, but the quoted IR's jumped into the mid sixes . . . . even with low 7's Credit! This at a time when conventionals are, what, roughly 4.875-5.0; and Sonyma even less??!!

@kharby2 - "A recent client of mine received 90% financing from Wells Fargo for a condo; since Fargo loans for co-ops they would be worth a try. She has outstanding credit and FICO (well into the 700's), is administrator in academic setting so job security probably better than average. "

What was the loan size/type (FXD, ARM, FHA program)? Thanks.